Polo Resources takes strategic stake in oil firm

January 9, 2016

Hibiscus seems like a horse to bet on.

Dateline 2015-12-02, Proactive investors:

Polo Resources (LON: POL) has taken an 8.4% stake in a Malaysia listed oil firm, whose assets, it says, are set for a step-jump on completion of two recent acquisitions.

Polo has subscribed for US$5mln of shares in Hibiscus Petroleum Berhad settled atUS$4.238 a share – a 4.08% discount to the Hibiscus closing price yesterday.

Hibiscus’s current development assets are in Australia with an estimated 8 million barrels of 2P/2C reserves/resources.

But that’s set to jump to around 47million barrels with the completion of the Hydra and Anasuria acquisitions.

In August, Hibiscus announced  a joint venture agreement with Ping Petroleum to each acquire 50% of the entire interests of Shell UK Ltd, Shell EP Offshore Ventures Limited and Esso Exploration and Production UK Limited in the producing Anasuria oil and gas fields in the North Sea.

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Posted by Wata

Malaysia eyes nuclear power use by 2030

January 8, 2016

From a discussion I had today, I need to get a degree in nuclear engineering.

Dateline unknown, AsiaOne:

MALAYSIA will start relying on nuclear power by 2030 if the green light is given for construction of two nuclear plants here.

Minister in the Prime Minister’s Department Datuk Mah Siew Keong said no decision had been made yet as feasibility studies were still being carried out.

“The decision will be based on findings of the Malaysian Nuclear Power Corporation and include the views of the rakyat,” Mah said in a written reply to a question raised by Nga Kor Ming (DAP-Taiping).

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Posted by Wata

Fall in oil price becomes opportunity for Malaysia’s Petronas

January 7, 2016

Dateline 2015-12-01, InTheBlack:

The chief executive of Malaysian energy giant Petronas is using the sliding oil price to push the boundaries on innovation while reining in costs.

Datuk Wan Zulkiflee Wan Ariffin took stewardship of Malaysian state-owned oil and gas giant Petronas on 1 April 2015, a day known in many parts of the world as April Fools’ Day. The irony is not lost on the company veteran, given the tough trading conditions Petronas is battling on the back of a sustained slump in the price of crude oil.

It has made his role of president and chief executive an even greater challenge. Wan Zulkiflee is shepherding the company’s 51,000 employees in 75 countries through a thorough and very public cost-cutting drive. He’s also responsible for contributing a large chunk to the Malaysian Government’s coffers – 30 per cent of government revenue came from Petronas in 2014, down from 40 per cent in 2009.

Against this, the crude oil price has dropped by about 50 per cent since mid-2014, largely due to an over-supplied market. Prices spent much of 2015 below US$50 a barrel and, while they’ve recovered at times over the past 12 months, analysts believe it will be many years before oil again fetches US$100 a barrel.

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Posted by Wata

Marketing Rounds – New Recruit

January 6, 2016

Say hello to staff 004, Rabbit. Her title is conversion director, biomass to coprolite (eventually). Staff 003 is in the same group as well.

IMG_20151028_182322

 

Leave a Comment » | Chemical | Permalink
Posted by Wata

BEM – Professional Engineer Renewal

January 5, 2016

It’s that time of the year again to renew your registration. Here’s a softcopy of the BEM CPD Annex 2 2015 that I created.

Donations of USD5 per copy used are acceptable, though the going rate is usually USD8.

 

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Lundin comes up dry off Malaysia

January 5, 2016

Dateline 2015-11-25, AOG:

Lundin Petroleum’s Malaysian arm has plugged and abandoned Selada-1 exploration well in block PM308A, offshore Malaysia, as it was a dry hole.

The well, which was targeting hydrocarbons in the Miocene aged sands approximately 14km to the south of the Bertam field operated by Lundin Malaysia, was drilled with the West Prospero jackup rig.

Lundin Malaysia holds 75% working interest in PM308A, while block partner PETRONAS Carigali has 25% stake.

Similarly, in the Bertam field, late October, the duo plugged and abandoned the Mengkuang-1 exploration well in license PM307, because only a small amount of gas was found. After drilling to a depth of 1259m below sea level, using the West Prospero, the well encountered 9m of gas pay.

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IEM Shout Out – Half Day Workshop on Shell and Tube Exchanger Thermal Design

January 5, 2016

This is a shout out for the IEM. My Technical Division will hosting the above workshop on Saturday  16th January, 2015 by Ir. Anwar Ahmad.

During this Shell and Tube Heat Exchanger Thermal Design course, there will be overview on the thermal design for designing shell and tube heat exchanger by considering design, operational, and maintenance perspective. The design of the heat exchanger is extremely important, as it is the key element of a heat-exchanged system. This is not only on the desired temperature to achieve during operation but also when considering the optimum design prior procuring an exchanger. Furthermore, properly designed heat exchanger can reduce the turn-down time for maintenance as no frequent cleaning is required while operating the plant or platform. Technologies involved in this thermal technology will be discussed during the workshop to highlight the importance and advantages when designing and operating shell and tube heat exchanger (STHE).

Ir. Anwar Ahmad is a registered Professional Engineer with Board of Engineer (BEM), Corporate Member with Institute of Engineers, Malaysia (IEM), Corporate Member with Institute of Chemical Engineers, UK (IChemE), Chartered Engineer from Engineering Council, UK with more than eleven (11) years experiences in process engineering in oil and gas industry, mainly in design with engineering firm and operation for technical support during turn around.

You can register here. Flyers may be obtained here.

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Posted by Wata

IEM Shout Out (N Sembilan) – Full-Day HAZOP Training For Team Members – A Practical Approach

January 5, 2016

The course has moved inter-state.

The Negeri Sembilan branch will be hosting a 1 day seminar on the 20th January, 2016. It is worth 7 CPD points, and held at Wisma IEM. Since I’m giving it, I expect hoards will have to be turned away at the gates. And I get to baaliiiik kampuungg.

A Hazard and Operability study is a formal and systematic and detailed examination of the process and engineering intentions of new or existing facilities which assesses the hazard potential and effects on the facility as a whole when operation is outside of the design envelope, or individual items of equipment malfunction.

This course is designed to educate participants in the HAZOP process from the perspective of a HAZOP team member. It is meant to provide both instruction and workshop sessions so that the participants:

  • Are familiar with the concept of ‘risk’
  • Are familiar with the theory behind HAZOP
  • Are familiar with the actual HAZOP workshop process
  • Have expectations as to what the HAZOP will (and won’t provide)
  • Understand what deliverables can be expected from a HAZOP
  • Have the opportunity to participate in HAZOP exercise in a safe environment
  • Opportunity to share HAZOP experiences

At the end of the session, the participants should:

  • Understand the responsibilities of all parties in the HAZOP
  • Have experience in a HAZOP session.
  • Understand the outcomes from a HAZOP session

Wata has 20 years of experience in the oil and gas industry, in both design and operations.

Register here, or download the form here.

Leave a Comment » | engineering | Permalink
Posted by Wata

Saturday Star 2016-01-02– Job Opportunities

January 4, 2016

Happy Back to School (and Work) Week. Donate to your favourite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I’m looking for jobs for 2Q2016. Send me your POs.
  • An associate of mine is looking for a technical safety part-time adviser. 2 Associates, actually. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
  • Paper’s taking a day off.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? Any weight loss diet.

During these trying times, perhaps you should focus on self improvement. The following are a good set of books to start automating your uncertainty budget tables.

The Cartoon Guide to Statistics, Hands-On Start to Wolfram Mathematica, Doubt-Free Uncertainty In Measurement: An Introduction for Engineers and Students

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

PETRONAS, Partners Gain from Malaysia’s Production Sharing Contracts

January 3, 2016

Dateline 2015-11-25, Rigzone:

Sweden’s Lundin Petroleum AB, when announcing the sale of upstream oil and gas assets in Indonesia to PT Medco Energi Internasional Tbk (Medco) last month, reiterated the importance of Malaysia to the firm’s growth strategy in Southeast Asia. Lundin after all operates several production sharing contracts (PSCs) in the country.

“We remain committed to our growth strategy in Southeast Asia where Malaysia continues to be one of Lundin Petroleum’s core areas,” Alex Schneiter, president and CEO of Lundin Petroleum said in an Oct. 9 press release.

The Swedish firm, which currently operates six PSCs in Malaysia – PM307, PM319, PM308A, PM308B, PM328 and SB307/308 – mainly in partnership with PETRONAS Carigali Sdn Bhd discovered gas at Mengkuang-1 exploration well in Block PM307 offshore Malaysia Oct. 26.

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